Hi Everyone,I purchased a tax lien on a property and found out today that the name on the tax assessor's website is the name of a person who bought a tax certificate in 2020.

As a person who has purchased hundreds of mortgage notes (non-performing and performing) and done many seller finance deals let me tell you if this was the case wouldn't all banks require the buyer (their borrower) to get such a deed so that if their borrowers do not pay then they don't have to go through foreclosure.  

For my own sake I wouldn't be comfortable walking away without at least 20-30k in personal liquidity in a 4-5% credit union acct.

Since have w2 jobs, not sure how much I can be involved in rehabbing for brrrr. 

Plus you can call them when they area bottle deep and ask for some personal referrals!

What if one person wants to sell, if one person gets married, when repairs are needed or someone wants to do renos (for cosmetic reasons). 

I am local and could even view in person to get a real time experience if you like. 

So instead of paying the bank for a home equity line of credit on my first home and paying them interest, I was able to use a personal loan to myself via my employer 403b and pay myself back with interest. 

At least that way I can use some of the cash flow to save for a personal residence.Any advice/perspectives on how I should approach this?

Next day another person calls in, just repeating what I said the day before in a dumb way and eventually said, you know you have to refinance the 1st mortgage, right?